Legal and General has updated its ‘Buy-to-Let Matrix’ to include lender positions on portfolios ahead of the PRA changes coming in at the end of September.
The Matrix now outlines which lenders will accept portfolio landlords and Limited Company BTL before the changes to underwriting standards for this group of borrowers are introduced.
L&G will update the details regularly, and when lenders reveal their position on this type of lending.
Legal & General Mortgage Club director Jeremy Duncombe (pictured) says: “There have been several structural changes within the buy-to-let market during the past year, and in September the market will face further changes to portfolio landlord underwriting standards. Lenders are now beginning to communicate their stance on this change before the rules come into effect, and this transparency is welcome.
“The L&G Mortgage Club’s Buy-to-Let Matrix has now been updated to include the latest information on lenders which have set out on their position, allowing brokers to familiarise themselves with any new criteria. We hope our latest update will encourage more lenders to state their position as soon as possible and enable allow advisers and their clients to prepare for these changes.”